One Of the core precepts of this blockchain technologies is to provide customers with unwavering privacy. Bitcoin since the first decentralized reliable cryptocurrency relied upon this assumption to advertise itself to the broader audience that was in need of a digital money that is free of government meddling.
Unfortunately, On the way, Bitcoin was rife with different flaws including non-scalability and mutable blockchain. Each of the trades and addresses are composed on the blockchain hence making it much easier for anybody to join the dots and unveil users’ personal details according to their present records. Some government and non-government bureaus are already utilizing blockchain analytics to read information on Bitcoin platform.
Such Defects have contributed to programmers looking into other blockchain technology with enhanced speed and security. One of those projects is Monero, typically represented by XMR ticker.
What is Monero?
Monero Is a privacy-oriented cryptocurrency job whose main intention is to offer better privacy than other blockchain ecosystems. This tech protect’s users’ information through stealth addresses and Ring signatures.
Stealth Address denotes the creation of one address for a solo trade. No 2 addresses can be immobilized to one trade. The coins obtained go into a completely different address which makes the whole procedure unclear to an outside observer.